Late Fall Real Estate Market Updates

During the late fall months, the real estate market tends to slow. But it recent years, the winter months haven’t been as fallow. For many active buyers who’ve been searching and competing in a tedious market, the opportunities are still present to find their next home. Over the next three months, many potential homebuyers begin to hibernate with visions of jumping back into the market in early spring. However, many of those buyers will miss out on the quality opportunities to purchase a home with less competition and potentially more negotiating control.

Nationwide, in the month of October, existing home sales rose 1.2% with a median sale price of $415,200, a 2.1% change from October 2024.

First time homebuyers made up 32% of all buyers, up from 27% in 2024. 29% of all home sale purchases were cash buyers, a 2% increase from a year ago. The average days on the market rose from 29 to 34 days.

In the Northeast region, sales went up 6.8% in the $250,000 to $500,000 range and 9.9% in the $500,000- $750,000 range from October 2024.

Pennsylvania continues to see a rise in home sale prices, with a 55.1% gain since 2020.

(Source NAR)

In Bucks County, the six-month median home sale price in October was $510,000, which was unchanged from October, yet still 8.5% higher than October 2024.

In November, the median home sale price dropped to $475,000, a -5.8% dip from the six-month average and a -3.7% change from November 2024.

Homes in October averaged 30 days on the market, a continuous rise since July, while in November, homes stayed on the market for an average of 27 days.

Bucks County home sales peaked at $530,00 in August, and in July, homes sales averaged 18 days on the market.

(Source Bright MLS and BCAR)

Source Bright MLS

In Montgomery County, the six-month median home sale price was $465,000, a 3.4% rise from October 2024. Homes in October and November were on the market for an average of 26 days, one day higher than the five-year average in the county and 3 days above the six-month average.

The median sale price in November was $460,000, which was a 3.3% increase from October and 2.2% increase from November 2024. Average home sales peaked In Montgomery County in July, averaging $500,000 and lasting 19 days on the market, the yearly low.

(Source Tri County Suburban Realtors)

Source Bright MLS

Throughout Bucks and Montgomery County, market trends continue to be hyper specific. Doylestown sale prices continue to rise at a rate 2.7%, topping out at $719,000 for the second half of the year. Warminster and Upper Southampton saw the greatest gains in sale price and time on market. Warminster prices went up 11.8% and spent 28.5% fewer days on the market than in 2024. Upper Southampton (8.7%) and Warwick (8.2%) both saw significant gains, yet Upper Southampton homes stayed on the market 46.4% fewer days while Warwick homes last 19% longer. Upper Moreland saw the greatest gains among the selected Montgomery County markets, rising by 9.3% from a year ago, but homes stayed on the market 61.5% longer. Montgomery (5.7%) and Horsham (4.2%) remain strong markets with positive gains and fewer days on market (-10%, -17%).

Stay tuned for predictions after the new year heading into the very active spring market.